Scientech Research LLC Increases Holdings in Impinj, Inc. (NASDAQ:PI)

Scientech Research LLC grew its holdings in Impinj, Inc. (NASDAQ:PI) by 37.5% during the second quarter, HoldingsChannel reports. The fund owned 2,373 shares of the company’s stock after purchasing an additional 647 shares during the period. Scientech Research LLC’s holdings in Impinj were worth $372,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Future Financial Wealth Managment LLC purchased a new stake in Impinj in the first quarter valued at $32,000. SouthState Corp acquired a new stake in shares of Impinj in the 2nd quarter valued at about $94,000. nVerses Capital LLC grew its stake in Impinj by 75.0% during the 2nd quarter. nVerses Capital LLC now owns 700 shares of the company’s stock worth $110,000 after buying an additional 300 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its position in Impinj by 117.9% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 963 shares of the company’s stock worth $124,000 after buying an additional 521 shares during the period. Finally, Jamison Private Wealth Management Inc. lifted its stake in Impinj by 211.2% in the second quarter. Jamison Private Wealth Management Inc. now owns 809 shares of the company’s stock valued at $127,000 after buying an additional 549 shares during the last quarter.

Insider Buying and Selling

In other news, major shareholder Sylebra Capital Llc purchased 4,264,393 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were acquired at an average price of $4.69 per share, for a total transaction of $20,000,003.17. Following the acquisition, the insider now directly owns 33,050,456 shares in the company, valued at approximately $155,006,638.64. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Impinj news, major shareholder Sylebra Capital Llc acquired 4,264,393 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were acquired at an average cost of $4.69 per share, for a total transaction of $20,000,003.17. Following the transaction, the insider now directly owns 33,050,456 shares of the company’s stock, valued at $155,006,638.64. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CRO Jeffrey Dossett sold 577 shares of the stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $209.20, for a total transaction of $120,708.40. Following the completion of the sale, the executive now directly owns 64,532 shares in the company, valued at $13,500,094.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,713 shares of company stock valued at $4,469,082. Corporate insiders own 51.00% of the company’s stock.

Impinj Price Performance

PI opened at $213.31 on Monday. Impinj, Inc. has a 12 month low of $48.39 and a 12 month high of $220.17. The stock has a market capitalization of $6.00 billion, a P/E ratio of -609.46 and a beta of 1.78. The business has a 50 day simple moving average of $169.34 and a 200-day simple moving average of $155.65.

Impinj (NASDAQ:PI) last released its earnings results on Wednesday, July 24th. The company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.09. Impinj had a negative return on equity of 21.12% and a net margin of 3.93%. The company had revenue of $102.50 million during the quarter, compared to the consensus estimate of $97.47 million. During the same quarter last year, the company earned ($0.14) earnings per share. Impinj’s quarterly revenue was up 19.2% compared to the same quarter last year. Research analysts anticipate that Impinj, Inc. will post 0.31 EPS for the current year.

Analyst Upgrades and Downgrades

PI has been the topic of a number of recent research reports. Susquehanna lifted their target price on shares of Impinj from $150.00 to $215.00 and gave the company a “positive” rating in a report on Wednesday, July 17th. Piper Sandler restated an “overweight” rating and issued a $225.00 price objective (up from $180.00) on shares of Impinj in a research note on Friday. Lake Street Capital increased their target price on shares of Impinj from $155.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Evercore ISI upped their price objective on Impinj from $172.00 to $205.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Finally, StockNews.com raised Impinj from a “sell” rating to a “hold” rating in a research report on Friday, July 26th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $191.60.

Impinj Profile

Impinj, Inc operates a cloud connectivity platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. Its platform wirelessly connects items and delivers data about the connected items to business and consumer applications. The company's platform comprises endpoint ICs, a miniature radios-on-a-chip that attaches to a host item and includes a number to identify the item.